All Forum Posts by: Callaway Pate

I'd say blinds. Tenant might put up tacky curtains but from a looks perspective you can't go wrong with standard vinyl blinds. Think it's best to make the decision for them in this case. 

Does your renovation cost take into account carrying cost for the duration of the rehab? I'm assuming that with your hard money interest rate will make that a pretty high monthly bill. If your reno is longer than a couple months the carrying costs will eat up that gross profit. Not to mention agent fees, staging, and short-term gains tax from the sale. The net profits may be pretty slim but it depends on what you think is worth your time. 

Best of luck!

Hey BP family!

I am working towards getting my real estate license in D.C. and was curious about connecting investors to opportunities. Are there any methods to finding property owners (preferably 2-5 units) that need to an unstable building? I'd appreciate any insight on this topic.

Best,

Callaway

P.S. I am looking to connect with investor friendly real estate brokers or agents so if you know anyone that fits that bill please feel free to message me on here.

Hey BP Family!

I hope everyone is preparing themselves for the future and ready to make the best of it. This question has been on my mind a lot recently and I thought I'd share. Can someone break down the benefits of syndication vs. solo-investing? I see often that in these multi-million dollar deals there is a group of investors pooling their money to acquire properties. Right now I don't see the point in that from an investment perspective. Why would someone go through the effort of raising millions in capital just to take a smaller piece of a giant pie when they could instead work from only their resources but have their own small pie. It feels as though an investor can make the same return (percentage wise) by doing either path. Other than the pride of partial ownership and the moderate-sized piece of pie, what is there to be gained from syndication? I hope I can learn something valuable about the concept of syndication because I'm almost sure there's something I'm missing about the strategy. Thanks in advance!

Best,

Callaway

Honestly Laleh, that is my current assumption. But based on what you're saying I'll definitely take the time to explore conventional as an option. Putting in sweat equity was something I was hoping to do, but I didn't have a good idea where to look. I appreciate the advice!

Thanks for the advice guys! I'm glad standard FHA is a viable loan option. I had a lender in the area telling me nothing but negative things about the prospect of getting an FHA loan and the information didn't sit right. Hopefully there won't be too many bumps when looking for financing.

Hey BP Family!

This is my first post on the forum so I'm interested to see how this goes. I am currently in college as an engineering major and I'm getting ready to move back to D.C. after I graduate (I am from there originally). I know that I want to invest in the area but would like to ask you all in the DMV if there are any tips and tricks you would recommend as I start my journey. Specifically, I want to learn more about the limitation of house hacking and the availability of government backed mortgages such as standard FHA and FHA 203K loans in today's market. I'd appreciate the advise!

Best,

Callaway